Marriott International expects to more than double the size of its portfolio in the Asia-Pacific region over the next few years. There are 132 hotels open in Asia today, and the company has a pipeline of signed and approved deals now totaling an additional 143 properties. With this, the company expects to grow to at least 265 hotels by 2016, with more than 80,000 rooms in 16 countries. The company expects to launch new brands in the region soon, with the introduction of Fairfield by Marriott in India next year and the launch of the Edition brand in Bangkok in 2014.
Marriott International currently operates eight brands in Asia Pacific: Bulgari Hotels & Resorts, The Ritz-Carlton, JW Marriott, Renaissance Hotels & Resorts, Marriott Hotels & Resorts, Courtyard by Marriott, Marriott Executive Apartments and the recently launched Autograph Collection of hotels that debuted in Asia with the opening of The Stones Legian, Bali this month.
The company sees growth potential targeting different market segments from luxury to mid-scale. This major growth in the region is said to be driven by consumer preference for the company’s global brands as can be seen by the doubling of membership in Marriott Rewards – Marriott International’s loyalty program – in Asia last year. Marriott Rewards grew to more than one million members in China alone, which continues to lead the company’s Asia growth.
With 127 open and signed hotels in China, the company expects to open on average one hotel per month in the country for the five years.
In India, 23 hotels with Marriott International’s brands are already under construction and the company is likely to grow from 15 hotels to 50-plus hotels in the next few years.
The company is also seeing growth with new signings and openings in Indonesia, Japan, Malaysia, Vietnam and elsewhere in the region. It expects to create some 36,000 new jobs in Asia through this growth and development to increase its workforce to more than 76,000 associates in the region by 2016 – including some 40,000 in China alone.
The Stones Legian, Bali